A New York federal judge on Wednesday granted $47.65 million in attorneys’ fees to the lawyers for employee health and pension funds who reached a $275 million settlement in a consolidated class action accusing Royal Bank of Scotland Group PLC of offering misleading mortgage-backed securities to investors.
A senior UBS investment adviser and 13 others have been arrested after an investigation by Israeli tax officials revealed possible wide-ranging tax avoidance by the country’s citizens through Swiss bank accounts, according to media reports Wednesday.
The U.S. Commodity Futures Trading Commission has made just one whistleblower award under the Dodd-Frank Act, yet according to an audit report released on Wednesday, the agency has amassed more money to pay tipsters and educate customers than Congress has given it to police the $700 trillion derivatives market.
Two financial giants, Wells Fargo and Co. and Goldman Sachs Group Inc., sharply reduced their estimates of the amount of money they expect to lose in litigation to $950 million and $2.5 billion, respectively, in Wednesday filings with the U.S. Securities and Exchange Commission.
WG Trading Co. LP co-founder Stephen Walsh will not withdraw his guilty plea for a $554 million investor fraud and will instead argue for a lesser sentence than the 20 years recommended by a New York federal judge, according to court documents filed Tuesday.
A funny thing happened on the way to Lawrence Sucharow becoming one of the plaintiffs bar's most admired attorneys: after drifting to law because he couldn’t figure out what else to do, Sucharow discovered a talent for seeing a path through the legal weeds confounding his colleagues — as if it were marked by a bright line.
Federal prosecutors on Tuesday said “buyer’s remorse” is the real reason a convicted co-conspirator in Thomas Petters’ $3.7 billion Ponzi scheme wants to renege on his plea deal, not because a Faegre Baker Daniels LLP partner or the government misrepresented the deal as the defendant now claims.
Aviv REIT Inc. has purchased more than two dozen senior care properties from a division of General Electric Credit Corp. of Tennessee for $305 million, the Chicago-based real estate investment trust said on Wednesday.
Uncertainty tinged a much-anticipated California federal court ruling that on Tuesday added contours to the debate over whether Valeant Pharmaceuticals International Inc. and activist investor Bill Ackman flouted securities laws in their joint takeover bid for Allergan Inc., keeping each of the parties on shaky ground.
A former NIR Group LLC analyst who admitted to fraud and taking kickbacks while at the defunct investment firm, but who has cooperated with investigators, avoided prison Wednesday in Brooklyn federal court, though the sentencing judge expressed frustration that millions of dollars connected to the crimes remain "in the ether."
A new rule approved by a slew of U.S. regulators late last month is already changing the shape of the $805.7 billion leveraged loan industry two years before it will be fully implemented as attorneys look for ways to keep the industry afloat amid new requirements designed to reduce investor risk.
Orion Capital Managers LLP is said to be shopping a Spanish retail complex for €400 million ($499 million), and Blackstone Group LP is reportedly the buyer behind Vornado's recent $605 million Manhattan office deal, while Hyatt Hotels Corp. and law firm Polsinelli PC are reportedly close to lease deals for an under construction Chicago tower.
U.S. District Court Judge Jed S. Rakoff on Wednesday criticized the U.S. Securities and Exchange Commission’s expansive use of its own in-house court to bring enforcement actions and warned that by sidestepping federal courts, the agency could end up stunting the development of the law.
Motorola Solutions Inc. said Wednesday it would buy back $750 million in shares from activist hedge fund ValueAct Capital LLC, part of an ongoing share repurchase program the company boosted by $5 billion this week thanks to hefty proceeds from its recent enterprise unit sale.
For four years, Republicans have sought to pick apart President Barack Obama’s signature financial reform law without much success. Now that they control Congress, experts say Republicans have a real chance to make some meaningful changes to the Dodd-Frank Act. Here, Law360 looks at parts of the law that could undergo change.
Former SAC Capital Advisors LP manager Mathew Martoma will stay free, at least temporarily, pending appeal of his $275 million insider-trading conviction, after a Second Circuit judge on Tuesday indefinitely stayed his prison surrender date until the appeals court can hear his bid for bail.
MetLife Inc. said on Tueday that it has hired a Gibson Dunn partner in connection with its challenge to its proposed designation as a systemically important financial institution subject to Federal Reserve oversight, and the Financial Stability Oversight Council voted to maintain Prudential Financial Inc.'s SIFI designation.
PSP Investments and a group of other companies are nearing a deal to pick up TDF's French unit for $4.4 billion, while Al Khair National for Stocks and Real Estate Co. is considering selling its 43 percent stake in Middle Eastern restaurant franchising and food giant Americana Group.
The U.S. Department of Labor has filed a lawsuit in Pennsylvania federal court claiming that the overseers for two West Virginia steel companies' employment retirement plans were responsible for losses and lost earnings in excess of $7 million.
State securities regulators launched their first-ever investigations into crowdfunding last year, according to a new survey by the North American Securities Administrators Association that also indicated a major decline in the overall number of probes and enforcement actions taken by the agencies.